Gas deal delayed

NICOSIA, March 15: A delay in the signing of gas deals worth $20 billion in Saudi Arabia, and statements by oil producers ahead of an Opec meeting made this week’s business headlines in the Middle East.

Saudi Oil Minister on Tuesday said stumbling blocks still existed with the eight international petroleum companies selected in June 2001 to develop three gas fields in the oil-rich kingdom. The signing of the final contracts with Exxon Mobil, Royal Dutch/ Shell, BP, Phillips, TotalFinaElf, Conoco, Occidental and Marathon was due on March 2.—AFP

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